GM sell Hummer to China, (does that really surpise us) Ha ha.

GM deals Hummer to Chinese buyer
Bankrupt automaker won't disclose details of deal to sell truck line, but source
identifies buyer as Sichuan Tengzhong.

Hummer is one of the brands GM is shedding as it restructures.

NEW YORK (CNNMoney.com) -- General Motors Corp. has signed a deal to sell its
Hummer truck unit to a Chinese industrial company, a person with knowledge of
the deal said Tuesday.

The news comes a day after GM (GMGMQ) filed for bankruptcy protection in New
York. The company did not identify the buyer nor name a price, saying only that
the deal would close by the end of September.

But a source identified the buyer as Sichuan Tengzhong Heavy Industrial
Machinery Company Ltd. in China.

As part of the deal, some GM plants will continue to build the Hummer brand for
the new owner, at least for awhile. The company said its Shreveport, La., plant
will keep building Hummers for the new owner until at least 2010.

"I'm confident that Hummer will thrive globally under its new ownership," said
Troy Clarke, president of GM North America, in a press release. "And for GM,
this sale continues to accelerate the reinvention of GM into a leaner, more
focused, and more cost-competitive automaker."

GM also said that the deal should protect more than 3,000 jobs in manufacturing
and engineering, and at dealerships "around the country."

The sale of the Hummer brand to a Chinese company will not impact the production
of U.S. military vehicles. Military Humvees are produced by a different company,
privately held AM General, based in South Bend, Ind.

Doby added these comments in the current discussion du jour ...

> GM deals Hummer to Chinese buyer
> Bankrupt automaker won't disclose details of deal to sell truck
> line, but source identifies buyer as Sichuan Tengzhong.
>
> Hummer is one of the brands GM is shedding as it restructures.
>
> NEW YORK (CNNMoney.com) -- General Motors Corp. has signed a
> deal to sell its Hummer truck unit to a Chinese industrial
> company, a person with knowledge of the deal said Tuesday.
>
> The news comes a day after GM (GMGMQ) filed for bankruptcy
> protection in New York. The company did not identify the buyer
> nor name a price, saying only that the deal would close by the
> end of September.
>
> But a source identified the buyer as Sichuan Tengzhong Heavy
> Industrial Machinery Company Ltd. in China.
>
> As part of the deal, some GM plants will continue to build the
> Hummer brand for the new owner, at least for awhile. The company
> said its Shreveport, La., plant will keep building Hummers for
> the new owner until at least 2010.
>
> "I'm confident that Hummer will thrive globally under its new
> ownership," said Troy Clarke, president of GM North America, in
> a press release. "And for GM, this sale continues to accelerate
> the reinvention of GM into a leaner, more focused, and more
> cost-competitive automaker."
>
> GM also said that the deal should protect more than 3,000 jobs
> in manufacturing and engineering, and at dealerships "around the
> country."
>
> The sale of the Hummer brand to a Chinese company will not
> impact the production of U.S. military vehicles. Military
> Humvees are produced by a different company, privately held AM
> General, based in South Bend, Ind.
>
Doby, YOUR tax dollars are being ****ed down the same toilet with
GM as mine. Keep in mind that Barack Hussein Osama has promised GM
$50B now, with vague inklings that he may go as high as $60. I'm a
car company fan, but that's about ONE MILLION DOLLARS for every
current GM job saved. Your tax dollars at work.

We are going to intentionally destroy our own economy with this
cap-and-trade horse****, convert to Socialized medicine ala Canada
and the UK while China has announced it has NO intention of doing
either. So, the last laugh is on us, huh?

--
Jerry, aka HP

"If you are out of work and hungry, eat an environmentalist" -
Florida billboard